crypto policy

Stand With Crypto proposes seven cryptocurrency policy recommendations ahead of the UK elections

ChainCatcher message, initiated by Coinbase's "Stand With Crypto" advocacy group, proposed seven cryptocurrency policy recommendations ahead of the UK elections on July 4.'The cryptocurrency advocacy group stated in a declaration that the next government should promote the UK as a global hub for web3 and tokenization, and establish a joint industry and government working group to explore opportunities to position the UK as this hub.Additionally, it recommended swiftly legislating for crypto assets, adhering to the principle of "same risk, same regulatory outcome" to protect consumers and promote industry growth, including regulating fiat-backed stablecoins to encourage competition in the digital payments space. The organization also prioritized treating proof of stake as a regulated activity and ensuring retail participation, which is crucial for the operation and innovation of proof of stake blockchains.Stand With Crypto UK further suggested that the government should undertake policy work to explore the advantages of decentralization across various sectors such as education, healthcare, and telecommunications, encouraging all government departments to adopt blockchain technology under the leadership of the Department for Science, Innovation and Technology to enhance efficiency and innovation.It also recommended developing a strategy to integrate tokenization into the financial sector, including lifting restrictions on retail access to cryptocurrency exchange-traded notes and providing a sandbox environment for experimenting with the tokenization of real-world assets.
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